Switch Mobility Ltd. celebrates one-year anniversary and achievement of key strategic milestones
Switch Mobility Ltd ('Switch'), the next-generation net zero carbon electric bus and light commercial vehicle company, following its one-year anniversary on 8 April 2022, today provides an update on its progress over the last year.
Following Switch's formation in April 2021, the company has grown significantly, delivering on key strategic milestones in support of its mission: to enrich lives through green mobility, delivering cleaner, smarter journeys that are accessible to all. Now with 300 vehicles on the road and a significant forward order bank, Switch continues to grow in line with its global strategy.
Andy Palmer, Vice Chairman and CEO of Switch Mobility Ltd, commented: "I am delighted with the progress we have made over the last 12 months. In a highly competitive sector, Switch has continued to grow, both in profile and in market share, and it is very pleasing that we are increasingly seen as a leading player in the industry. The investment interest we have garnered and the quality of partnerships we have formed are testament to that achievement. Our team of talented engineers have developed some of the most innovative vehicles and technologies currently available on the market, which continue to develop at pace. We have started 2022 well, building on last year's momentum, and have an exciting 12 months ahead with the development of our site in Spain and further product launches, including our latest project at the European Mobility Expo in June, and electric LCVs in India."
Mahesh Babu, Director & CEO â€" Switch Mobility India, COO â€" Switch Mobility Ltd, commented: "Our focus is to provide efficient, clean, safe and lowest total cost of ownership value proposition for our customers. In India, the exponential 10x increase in order book with 600 buses and almost 1200 in the pipeline is a testament of the trust built on our brand and our products. Switch EV buses in India have clocked over 7 million kms across the country, saving 4500 tonnes of CO2, with a significant uptime of over 97%. Our ability to bring value, along with our strong channel and service workforce, will certainly help us to establish Switch as a key player in India''.
Expanding global footprint creating jobs and a workforce of experts
- Switch has expanded to nine sites across three countries â€" the UK, Spain and India â€" in line with the company's ambitious global growth strategy
- First site in mainland Europe â€" in Valladolid, Spain â€" broke ground in March 2022 and is set to create 7,000 direct and indirect jobs in the region, supported by a planned €100m investment over the next decade
£300m investment announced in April 2022 to support development of new products, a technical centre in Warwick and a new office in Chennai, increasing employee numbers by up to 4000 across the UK and India in the medium term.
Pioneering innovative new technologies and eMaaS solutions to create next generation EV products
- 'Project ODIN', expected to be the lightest widely available 12m electric bus on the market, will be launched at the European Mobility Expo in Paris on June 7th. Boasting a monocoque design, the vehicle is equipped with the latest NMC battery technology and Switch's pioneering digital tools.
- Switch set to unveil its new Indian eLCV in early 2023 and a new 12m bus for India will commence deliveries from June 2022.
- Switch established its first subsidiary, OHM Global Mobility, in April 2021 to pioneer Mobility as a Service (eMaaS) solutions in India and then globally.
Building in-house expertise and quality governance
- Notable board appointments include Andy Palmer as CEO, Mahesh Babu as COO of Switch Mobility Ltd. and CEO of Switch Mobility India, Sarwant Singh, President and Chief Planning Officer of Switch Mobility Ltd and CEO of OHM Global Mobility Ltd, Peter Freedman as Chief Marketing and Sustainability Officer, Stuart Jeff as Chief Quality Officer, and Miranda Brawn and Diane Moore as independent Non-Executive Directors.
- These board appointments bring together experienced leaders in the fields of engineering, finance, ESG and all bring significant advisory knowledge to strengthen Switch's future growth.
- Employee base has grown to 774 and continues to expand at pace.
Creating industry-leading strategic partnerships
- Switch has agreed a series of partnerships over the last year to support its rapid development including a co-operative technological partnership with Siemens to execute eMobility projects in India.
- A strategic agreement between Switch and Dana Incorporated, a global leader in drivetrain and e-propulsion systems, was agreed in July 2021. Included was a 1.1% investment to become Switch's preferred supplier of electric drivetrain components, valuing Switch at $1.6bn.
Generating growth with sustainability at the heart
- Switch joined the Race to Zero and the Science Based Targets initiative (SBTi) in April 2021. This commits Switch to reducing Scope 1 and 2 CO2 emissions by 50% by 2030 and further reducing Scope 3 emissions.
- Already hit several key milestones including saving over 5 million tonnes of CO2 from its Metrodecker buses. In March 2022 Switch were proud to become officially carbon neutral certified, the first global bus manufacturer to achieve this.
Played a key role at COP26, partnering with Abellio and ScotRail to provide electric transport around the event. Switch was selected as one of only eleven companies to officially exhibit as part of the UK Green Zone EV and Hydrogen showcase while Andy Palmer and Sarwant Singh also spoke at several COP26 events.